1st Quarter Zionsville Real Estate Update

First Quarter Zionsville Updates

194 Homes for sale
111 Homes sold in the 1^st Quarter of 2014
96 Average days on the market for sold homes in the 1^st Quarter of 2014
$438,650 Median price of homes currently for sale
$335,000 Median price of homes sold in the 1^st Quarter of 2014

What do all these numbers mean?

Much has been said in 2014 regarding real estate transactions, home prices, interest rates, etc.  So much that it often confuses even the most seasoned real estate professionals.  Here’s our take on what’s going on locally:

Real Estate Transactions

In both the first quarter of 2013 and 2014, 111 homes sold in Zionsville.  This marks the consistency we like to see in the real estate market – no huge gains or declines.  Further, this winter was marked by some of the worst weather we’ve seen in decades, making the prospect of viewing homes for sale somewhat difficult.

Home Prices

When comparing the first quarter of 2014 to that of the previous year, we saw a nearly 5% increase in average sales price.  Again, this marks the moderate improvement and consistency that we see as a positive sign in the market place. 

Interest Rates

A recent Money Magazine article, rates are expected to climb from their current 4.4% to 5.3% by the 2^nd quarter of 2015.  Bottom line, purchasing a home will not get cheaper and may get more expensive.

In order to best explain the market, it is critical focus on a specific location. Here we’ve focused on the Zionsville market, but it is also important to review your own specific neighborhood.  If you’d like information regarding your home and neighborhood’s real estate market, please contact me.  I’d be honored to assist you.